The erosion of conventional wisdom
From the Emerging Technologies Blog
by Kevin Coleman
UPDATED MAY 2020 - This blog will appear monthly from now on. Today, all organizations depend on technological innovation in order to sustain their existence. Analysis of emerging technologies and identification of those technologies with the greatest potential is essential to being prepared for upcoming projects. The objective of this blog is to establish future oriented technology analysis and insights. This blog was established to provide program and project managers with information about these emerging technologies. These emerging technologies have far reaching repercussions for program and project managers. This blog will jump-start the learning process and allow program and project managers to become proactive.
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Are you ready for your conventional wisdom being challenged by the changes in thinking being brought about by the introduction of emerging technologies? That is a growing concern of an increasing number of researchers and professionals. It is likely this will hold true for a growing percentage of program and project management professionals and other leaders that face this highly complex situation. An analysis of 17 emerging technologies suggest that they will create a global market of nearly $7 trillion USD in 2025. The new and unique application of those technologies and their implications will create some challenges to our mental models. They will also increase the number of programs and projects that must be managed.
As we evolve through our professional development and careers, we gain experience we use and build upon year after year. Professionals have counted on conventional wisdom to various extents, when it comes to execution of our work, duties and decision making. Conventional wisdom is made up of our past experience and of one's self, as well as subject matter expertise and what we learn from other professionals their body of ideas, explanations or advice that has gained general acceptance in a field. That is what makes PMI and the ProjectManagement.Com platform so valuable.
The numerous pieces of emerging technologies, individually and when 2 or more begin interacting, will challenge conventional wisdom! These new and exciting capabilities open up innovative opportunities for change and those changes are what create competitive advantage and completely new business models. It is critical that PMs engage program and project stakeholders and ensure they are aware of the issues and opportunities emerging technologies create. They must also be made aware of the challenges they create for program and project management. Stakeholders must be educated at a high level, and provide a transfer of awareness of the disruptive implications of the new and emerging technologies involved in the initiatives under management. This requirement holds true for C-level executives and members of the Board of Directors as well.
I am sure this is not the first time most PMs have needed to adapt during their careers. Nor, will it be the last time the need to adapt arises. That being said, what is changing is the frequency this is likely to occur and the speed the adaptation must stake place. Harvard President Charles W. Eliot said in his 1869 remarks, “A good past is positively dangerous, if it makes us content with the present, and so unprepared for the future.” I would add it gives us a false sense of security in our decision making. The current state business and technology demands we open our minds, continuously explore what might be possible and seek out value from emerging technology.
Posted on: March 06, 2021 01:18 PM |
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Comments (5)
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Brian Martin
Chief Project Executive| CONFIDENTIAL
Ca, United States
I am experiencing this right now and it is exciting, challenging and concerning all at the same time. I want to be positioned to be the project manager on these type of projects. I can find no set formula to do this.
Being adaptable is the key and part of that is acquiring knowledge
Luis Branco
CEO| Business Insight, Consultores de Gestão, Ldª
Carcavelos, Lisboa, Portugal
Dear Kevin
Very interesting this theme that brought to our neflexion and debate
Thanks for sharing
We are facing a situation in which we either change our paradigm or become irrelevant
Can we keep up with the pace at which change is taking place?
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
@Luis - It is already becoming quite difficult keeping pace with change. I can't imagine do son in 2025 with all the new technologies.
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